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Figure 3 LNB Contracting strategy
Figure 4 HRPC Project Phases
The project had a period of reduced pace from Feb approach:
2010 to Jan 2012 waiting for the full sanctioning and 1. Master plan by LNB
clearance of permitting by Bulgarian authorities. In 2. Execution of Front End Engineering Design (FEED)
January 2012 an EPC LSTK Contract following the 3. Purchase by LNB of Long Lead Items (LLI)
agreement of the Open Book Estimate was awarded to 4. Preparation of Open Book Estimate (OBE)
Technip Italy. The planned EPC time for completion 5. Award of an EPC Contract based on LSTK
was 36 months. Contract
Though during the FEED no pre-determined contractual
Project contractual scheme scheme for the EPC was selected by LNB several
as a result of project risk driving forces supported a collaborative approach for
the execution of HRPC project.
assessment There are several factors that affect the possible
execution scheme and contracting approach in a
General considerations megaproject; the subject is very much debated in the
The project execution was based on a staged academia [4] and in the industry [5] because globally
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